Aldira Sunrise 2 Desember 2024

• AMMN has realized USD 1.39B capex in 9M24
Amman Mineral Internasional (AMMN) has allocated USD 1.39B (approximately IDR 21.99T) in
capital expenditures in 9M24. The majority of this investment is directed towards the
construction of a copper smelter and the expansion of the concentrator plant. The smelter
project, with a total budget of USD 1.1B, is designed to process 900,000 tons of copper
concentrate annually. As of 31 Dec 23, USD 600M had been invested in this initiative.
Additionally, AMMN is investing in a gas and steam power plant (PLTGU), liquefied natural
gas (LNG) facilities, and transmission and distribution infrastructure to support its operations.
The company has earmarked USD 438M for these energy projects. These strategic
investments aim to enhance AMMN’s operational efficiency and support its transformation
into a fully integrated mining and smelting enterprise. Fund managers should monitor the
progress of these projects, as their successful completion is expected to significantly impact
the company’s production capacity and financial performance. (Bisnis Indonesia)
• Wukong Technology officially becomes new shareholder of DATA
Remala Abadi (DATA), an Indonesian internet service provider, has announced that Wukong
Technology Partners Limited has become a new shareholder, acquiring a 49% stake in the
company. This acquisition was executed through a combination of share purchase and the
conversion of DATA’s debt into equity. Following this transaction, DATA’s shareholding
structure has been significantly altered. The company’s authorized capital has been
increased from IDR 6.2B to IDR 50B. The new composition comprises DATA holding 25,500
shares (51%) and Wukong Technology owning 24,500 shares (49%). This capital augmentation
was achieved through the conversion of IDR 6B of DATA’s debt into equity for Wukong
Technology and a cash injection of IDR 37.8B from both parties. This strategic partnership is
anticipated to bolster DATA’s capital structure, facilitating more aggressive expansion into
the telecommunications and technology sectors. The company plans to diversify its business
lines, particularly in telecommunications and internet service provision, to enhance
competitiveness and revenue potential. (Emiten News)
• FILM will conduct a right issue
MD Entertainment (FILM) plans to hold a right issue of up to a maximum of 10% of the total
number of shares or 989.78M new shares. To gain approval from shareholders, the company
will conduct an Extraordinary General Meeting of Shareholders (EGMS), which will take place
on 2 Dec 24. FILM will use all proceeds from the rights issue to meet general liquidity needs,
capital expenditure, working capital, and for the growth or development of the company, its
subsidiaries, and associated entities, both those that exist now or that will exist in the future.
(Kontan)
• MBMA will conduct a private placement
Merdeka Battery Materials (MBMA) plans to conduct a private placement after obtaining
shareholders’ approval in the Extraordinary General Meeting of Shareholders (EGMS) on 6
Dec 24. MBMA will issue a maximum of 10,799,541,990 shares or the equivalent of 10% of the
company’s paid-up and issued capital. As much as 15% of the total funds will be used for the
working capital needs of the company and group, which includes but is not limited to
employee costs, professional service costs, tax costs, and financial costs. The rest will be used
for business development of the company and group, either in the form of capital
expenditures and/or share purchases and/or asset purchases and/or share investments
and/or granting loans and appropriate transaction methods to one or more companies with
industries appropriate or related to and/or support the company’s business and group
activities. (Kontan)
• POWR to distribute an USD 28M interim dividend
Sri Rejeki Isman (SRIL) reported a reduction in net loss for 9M24, with losses decreasing from
USD 115.2M in 9M23 to USD 66.05M. This improvement occurred despite a decline in net sales,
which fell from USD 345.6M in 9M23 to USD 278.5M in 9M24. The cost of goods sold also
decreased from USD 308.5M to USD 243.3M, contributing to a gross profit of USD 35.2M, down
from USD 37.1M in 9M23. Operating expenses saw a significant reduction, with selling
expenses dropping from USD 6.5M to USD 2.5M, and general and administrative expenses
decreasing from USD 20.3M to USD 10.5M. This led to an operating profit of USD 22.1M, up
from USD 10.3M in 9M23. However, SRIL continues to face substantial financial challenges,
including a bankruptcy ruling by the Semarang District Court in Oct 24 due to unpaid debts
totaling USD 1.6B as of June 2024. The company is appealing the decision and seeking
government support to prevent potential layoffs affecting approximately 50,000 employees.
(Bisnis Indonesia)